Btw, Democrats are divided on crypto. Sen Elizabeth Warren and JP Morgan CEO Jamie Dimon (called crypto pet rocks yesterday) and the European Central Bank are imo on point with their criticisms and thoughts of crypto. I think most politicians know it’s a scam entertainement gambling business and were waiting until the blowup happens to do anything about it. Plenty of idiots on both political sides (dem and republican) were duped into thinking this stuff is fascinating technology and the future etc when the reality is it’s complete junk. NYC Mayor is a clown, Gov Jared Polis of Colorado is a clown going to visit Vitalik Buterin at his shtcoin show. Elon Musk pumped the price up by telling everyone he’s buying bitcoin and Dogecoin and then dumping his position and leaving his libertarian shtbag holders with big shtbags of losses.
JPMorgan Chase CEO Jamie Dimon joins CNBC's 'Squawk Box' to weigh in on the collapse of crypto exchange FTX. For access to live and exclusive video from CNBC...
🧵 Crypto-assets have become the bubble of a generation, says Executive Board member Fabio Panetta at the @LBS's Insight Summit 2022. Crypto-assets are not money. Many are just a new way of gambling https://t.co/S3YOJcq9QM
He doesn’t stand to gain from his criticism of crypto. He says he thinks it’s worthless but if the idiots out there want to trade it it’s OK with him. In fact, JP Morgan is collecting fees off crypto trading, because there’s still an idiot client base in general public that wants to hear about crypto and still want to trade crypto and so JP Morgan is happy to collect the fees
100% the right answer. He has tribe immunity. He just has to stay out of the US forever and nothing will happen to him I bet. Otherwise he might be Epsteined if he starts talking.
Pretty sure he can move freely in the USA
Well that's really ridiculous then (though not surprising based on his connections).
The typical person/victim fooled by the Crypto shtcoins scam tends to be a libertarian lower-class to middle-class person (usually a male risk-taker Gen Z or millennial aged) who is mad at elites in power at the level of income and wealth inequality. (the key to the scam is to convince these victims to be sold on false narrative that with high inflation and Jerome Powell‘s endless printing money and “number go up” crypto graphs of past performance that everyone in society will be poor if they do not immediately buy and hoard crypto since adoption is coming and look at the lambo guy in Miami with overnight wealth etc) and since they feel and know they’ll have a tough time being able to get ahead in life making money in traditional ways (starting a business, working a job, making investments in regulated markets, inheriting money from family, etc) , they finds themselves way behind in life savings, consumer debt student loan debt etc and so they feel they need to join a get-rich-quick scheme and a cult to feel a part of and get hope in life. They think they are being rebels by sticking it to the man, etc., but the reality is they are the ones being fooled.
They spent much of 2021 telling everyone to HFSP (have fun staying poor)
I think he said the same thing when coins were invented.
He's pretty sharp for a 98-year-old. He would have been 9 years old when FDR abandoned the gold standard. He's also old enough to have witnessed Charle's Ponzi's postal coupon scheme, Florida land scams, oil well scams, and all manner of get rich quick schemes come and go through the years. Crypto is no different. SBF is our generations Charles Ponzi. All crypto is essentially worthless.
I am obsessed wtih this case like Iwas Elizabeth Holmes. I want this guy in jail for a LONG time. If Madoff got 150 years, life might be about right.
A poor black guy sells some drugs and he get 20 years. This dude STEALS billions and is lounging in the Bahamas with his Stanford law professor parents.
I have a bet with my friend. He thinks he'll serve zero days in jail given his donations. If that happens, he wins the bet. I only win if he gets more than 20.
I hope his lover - who supposedly was spotted in NY this weekend - sings to the Feds and this guy rots. As Elon Musk said, it's time for some adult time out in a federal penitentiary.
Agreed. Let’s just give him an adult timeout in the big house & move on.
PS. I don't really think this is that political of a case but also don't believe ANYTHING this guy says so I don't believe the dark donations to the GOP. But if true, it's hilarious how he played the media for EA and what DEM donations.
The typical person/victim fooled by the Crypto shtcoins scam tends to be a libertarian lower-class to middle-class person (usually a male risk-taker Gen Z or millennial aged) who is mad at elites in power at the level of income and wealth inequality. (the key to the scam is to convince these victims to be sold on false narrative that with high inflation and Jerome Powell‘s endless printing money and “number go up” crypto graphs of past performance that everyone in society will be poor if they do not immediately buy and hoard crypto since adoption is coming and look at the lambo guy in Miami with overnight wealth etc) and since they feel and know they’ll have a tough time being able to get ahead in life making money in traditional ways (starting a business, working a job, making investments in regulated markets, inheriting money from family, etc) , they finds themselves way behind in life savings, consumer debt student loan debt etc and so they feel they need to join a get-rich-quick scheme and a cult to feel a part of and get hope in life. They think they are being rebels by sticking it to the man, etc., but the reality is they are the ones being fooled.
They spent much of 2021 telling everyone to HFSP (have fun staying poor)
Mostly millennials and gen-Z looking to get rich quick.